World Liberty Financial, a crypto venture linked to the Trump family, has unveiled a token buyback plan following a sharp decline in its WLFI token after this week’s US midterm elections. The selloff came as initial election results indicated Democrats would regain control of both chambers of Congress next year.
The broader cryptocurrency market experienced volatility in response to the election outcomes, but tokens associated with Republican President Donald Trump faced particularly steep losses. The buyback initiative aims to stabilize the WLFI token amid the market turbulence.
World Liberty Financial has not disclosed the specifics of the buyback plan, including the amount of tokens to be repurchased or the timeline for the operation. The move comes as the firm seeks to reassure investors following the election-driven downturn.